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Most companies allow employees to request for loans thereby making it a very crucial process especially when it comes to record keeping. HCM simplifies all this for the HR. The Employee is able to apply as shown on the screenshot. All the Employee has to do is to state the amount requested, monthly payment under Repayment and narration and saves it as draft in-case an update is needed.

LOAN APPLICATION

Upon filling up the application, the applicant should have a view as shown. HCM then automates the installments based on your monthly repayments. Finally, the employee has to select on the 'Apply for loan' at the bottom menu and press the action button to fully forward the application to the HR for approval

HR APPLICANT VIEW

The HR is able to view all employee loan applications, even those that have not fully forwaded the application, saved as draft. The applicant that has forwarded the application will have the approval status as completed ,as shown for Kamau Joseph.

HR APPROVAL

The HR clicks on the applicant completed form and edits it by approving or rejecting the loan. In our case, the HR approves the loan for Mr. Kamau and indicates when the loan was approved.

HR VIEW ON LOAN STATUS

Upon approving the loan, the HR view of the application status for the approved applicant will change from 'completed' to 'approved' as shown.

EMPLOYEE VIEW ON LOAN STATUS

On the applicant account, the status of the loan will also change to 'approved'.

Loans REPORT

HCM summaries the loan applied for the hr. A detailed report is generated and exported to either excel or pdf. This is only visible to the hr.